Lender Services Lender Services

Servicing Quality Control Review Program

Wetzel & Associates, a Stewart company, can protect you against unnecessary risk on conventional, government and investor portfolio loans by performing servicing quality control reviews on your loans. These reviews:

  • Protect you from unacceptable risk
  • Identify weaknesses and avoid the resource drain and expense of repeating tasks
  • Guard against errors, omissions and fraud
  • Assure swift and appropriate corrective action

Our Servicing Quality Control Program is a review of all aspects of loan servicing including loan administration, default and loss mitigation. Our reviews meet the requirements of FHLMC, FNMA, FHA, VA, USDA, FHLB and lender portfolio programs. Our audit also includes ensuring compliance with the Consumer Financial Protection Bureau guidelines. We can customize our reviews to meet any lender needs.

We complete file reviews by selecting an appropriate sample of loans by servicing function, to be certain that agency and investor requirements have been met. Management reports are then prepared detailing the results of monthly, quarterly and annual reviews.

At Wetzel & Associates, we break down the Servicing Quality Control Review into four main categories, with more categories available to be added upon request. We break the categories down as follows:

Servicing Function Reviews

  • 203K loans
  • 235 re-certifications
  • Arm Changes – Initial Interest Rate Adjustment Notice, Ongoing Rate Adjustment Notice, Set-ups
  • Assumptions
  • Customer Service – Error Resolution and Info Request, Fees and Charges, Response Time
  • Escrow Loans – Escrow Analysis, Hazard Insurance, Late Charges, Taxes
  • Flood Insured Loans
  • Force – Placed Flood Insurance, Placed Flood Insurance Cancellations. Placed Flood Insurance Renewals
  • Force – Placed Hazard Insurance, Placed Hazard Insurance Cancellations, Placed Hazard Insurance Renewals
  • Home Equity Conversion Mortgages
  • Initial Interest Rate Adjustment Notice
  • MIP/RBP Remittance
  • New Loan Set-up
  • Non-escrow Loans – Hazard Insurance, Taxes
  • Payoffs
  • Periodic Statements
  • PMI Cancellations, PMI Remittance
  • Prompt Payment Crediting
  • Servicing Acquired, Transferred

Default Reviews

  • Bankruptcy
  • Claims
  • Collections
  • Foreclosures
  • Deficiency Judgements

Loss Mitigation Reviews

  • Special Forbearance Plan (Unemployment Forbearance)
  • Formal Forbearance
  • Repayment Plan
  • Loan Modifications – Trial, Final
  • HAMP Modification – Trial, Final
  • Streamline Modification – Trial, Final
  • Deed-in-Lieu
  • Pre-foreclosure Sale (Short Sale)

We also offer customized reviews upon client’s request.

Contact us today at (800) 577-6674 or lenderservices@stewart.com for more information about our Servicing Quality Control Review program.